New housing program provides up to $80,000 in assistance

Charlotte-NC. A new pilot housing program in Charlotte will provide up to $80,000 in assistance to eligible residents buying a home in “target areas” within the “Opportunity Corridors.”

House Charlotte Plus offers an additional layer of financial assistance to House Charlotte’s existing homeownership program. Through this new pilot program, an eligible resident can receive an additional $50,000 as a deferred loan at 0% interest. House Charlotte Plus must be used in conjunction with House Charlotte, currently offering up to $30,000. Together, an eligible homebuyer could receive up to $80,000 in assistance through these two programs.

As part of ongoing and planned $60 million investments renewing the city’s commitment to Opportunity Corridors, House Charlotte Plus is only available in designated areas within Opportunity Corridors known as catchment areas. To be eligible for House Charlotte Plus, a homebuyer’s income must be 80% of Area Median Income (AMI) or less.

The maximum purchase price is $300,000 for existing homes and $315,000 for new construction. The full balance of the loan must be paid if the property is sold or transferred, owner-occupancy status changes, or a cash-out refinance transaction is completed before the 30-year period expires. The loan is forgiven in year 31.

Opportunity Brokers

House Charlotte Plus is only available in designated areas within the perimeter of the six corridors:

-Graham Street/North Tryon Street

-Sugar Creek- I-85

-Albemarle Road/Central Avenue

-Beatties Ford Road/Rozzeles Ferry Road

-West Boulevard

-Freedom Drive/Wilkinson Boulevard

For more information about the House Charlotte program, visit housecharlotteprogram.com or call the House Charlotte program team at 704.705.3999.